|Bid||0.00 x 4000|
|Ask||0.00 x 900|
|Day's Range||31.84 - 32.46|
|52 Week Range||28.25 - 46.21|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.28|
|Expense Ratio (net)||0.43%|
The Zacks Analyst Blog Highlights: Energy Select Sector SPDR, iShares U.S. Home Construction, iShares Dow Jones Transportation and Financial Select Sector
A measure of home builder sentiment touched its lowest in more than three years as housing market headwinds gathered steam, and the industry group that compiles the tracker blamed rising mortgage rates.
Heading into 2019, there are few bets more contrarian than U.S. housing. Homebuilder stocks have been halved in many cases. Building products suppliers and distributors have performed just as poorly — if not worse.
Economic Data Ahead This week we have a few interesting pieces of data on the economic docket. Monday, not much happening but foreign buying of T-bonds could make a bit of a splash. The yield curve has inverted, partially, on the short end of Treasury maturities, and has flattened out on the longer end, and […] The post Market Morning: Rate Hike Ahead, Obamacare Struck Down, JNJ Asbestos Scandal, Qatar Challenges Saudis appeared first on Market Exclusive.
The average U.S. 30-year mortgage rate has fallen to a two-month low as investors rush to safe haven amid market decline, putting homebuilder ETFs in focus.
After the sharp sell-off on Wednesday, home construction stocks and homebuilder sector-related exchange traded funds were among the few areas of strength Thursday in response to the fall in mortgage rates. On Thursday, the SPDR S&P Homebuilders ETF (XHB) rose 0.9% and iShares U.S. Home Construction ETF (ITB) increased 1.6%. Homebuilders have been under pressure as housing affordability concerns weighed on the sector, specially in recent months as mortgage rates and home prices continued to push higher.
A deadly combination of rising rates and low affordability continues to pound the housing industry, including homebuilders and homebuilder-focused exchange-traded funds (ETFs) alike, such as the Direxion ...
Shares of home builders took a broad beating Tuesday, after luxury builder Toll Brothers confirmed investors fears by saying it witnessed the housing market “soften further” in November, especially in California, because of reduced affordability and fewer foreign buyers.
The OECD (Organisation for Economic Co-operation and Development) has said that global economic growth has peaked. It lowered its growth forecast for global GDP (gross domestic product) to 3.5% for 2019 from 3.7%. It said that trade tensions have already erased 0.1–0.2 percentage points from the global GDP this year, and if the United States hikes tariffs on Chinese products to 25%, economic growth could fall to ~3% in 2020 from the current estimate of 3.5%.
Shares of home builders took a dive Wednesday, after data showing new home sales in October fell a lot more than expected. The iShares U.S. Home Construction ETF shed 2.2% in morning trade, with 44 of it 47 equity components trading lower. Among the more active home builders, shares of PulteGroup Inc. fell 3.5%, D.R. Horton Inc. dropped 2.1%, Toll Brothers Inc. gave up 3.5%, Lennar Corp. slid 2.8% and KB Home declined 3.2%. New-home sales fell 8.9% month-to-month to a seasonally adjusted annual rate of 544,000 in October, below expectations of about 589,000, while the median sales price fell 3.1% to $309,700. Earlier, real estate marketplace Zillow Group Inc. said it expected the home-buying market to continue to slow in 2019, as rising interest rates reduces affordability. The home construction ETF has has tumbled 18% over the past three months, while the S&P 500 has declined 7.2%.
The three major indices logged in their biggest losses in a Thanksgiving week since 2011. We have highlighted the best and worst performing ETFs of the Thanksgiving week.
Homebuilder stocks and sector-related ETFs may be stuck in a mire as slowing demand among home buyers and a steep drop in housing starts drag down sentiment. The home construction industry weakened Monday after the National Association of Home Builders revealed U.S. home builder sentiment saw its steepest one-month decline in over four-and-a-half years in November due to rising mortgage rates and a tight home inventory, Reuters reports. “Today’s housing data was pretty bad,” Jim Smigiel, chief investment office of Absolute Return Strategies, told MarketWatch.
The one-two punch combination of rising rates and low affordability continues to pound the housing industry as the National Association of Home Builders/Wells Fargo Housing Market Index, a key measure ...
Could Gold Be the Best Bet amid Increased Economic Uncertainty? The Federal Reserve is predicting growth to slow to 2.5% next year before slowing down further to 2.0%. This data becomes even more disappointing given the fact that the investments should have ideally risen given the tax cuts implemented by the current administration.
This Week in Economic Data World Not much going on this week, but what is going on is all concentrated on Tuesday and Wednesday. On Tuesday we have housing starts and building permits, which give us a better idea of whether the slowdown we have seen lately in housing is something bigger than just a […] The post Market Morning: Housing Numbers, Oil Bounce, ECB Soothes, Bitcoin Bloodbath appeared first on Market Exclusive.
Homebuilders stocks and the related exchange traded funds recently rallied, albeit modestly, off 2018 lows, but some market observers believe the group remains vulnerable to additional downside. The SPDR S&P Homebuilders ETF (XHB) , iShares U.S. Home Construction ETF (ITB) and Invesco Dynamic Building & Construction ETF (PKB) are still sporting significant year-to-date losses. “The XHB homebuilders ETF and ITB home construction ETF are both tracking for their worst years since 2008, the middle of a housing crisis that demolished the group,” reports CNBC.
Housing stocks are having a terrible year, weighed down by higher mortgage rates and raw-material costs. Because HVAC units typically last between 12 to 15 years, Baird analyst Tim Wojs sees strong demand for replacement-HVAC units over the next few years as units purchased during the height of the housing boom between 2003 and 2006 will soon need to be replaced. “We probably have a couple more years of strong replacement demand,” Wojs said.